Lawsuit to Stop Overpayment to Robert Nardelli

Lawsuit to Stop Overpayment to Robert Nardelli

I previously reported on the shameful amount of money being paid outgoing Home_depot_1 Home Depot CEO Robert Nardelli (1/3/07). Now a group of shareholders have sued to stop the company from paying him a $210 Million dollar prize as he exits the company by resigning. Suit was filed in Georgia asking for an injunction to stop payment. The suit alleges "Nardelli’s tenure has been marked by abuse of shareholders and disappointing shareholder returns. There has been widespread criticisms of Nardelli’s lack of success before he resigned January 2nd and outrage over the enormous golden parachute he will receive for poor performance. This is just one of many similar gigantic payments made to outgoing corporate executives at the expense of shareholders.

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